Vitol offers 2.20 euros per share for 40% stake in Saras - newspaper
09/02/2024 08:01
ROME, Feb 9 (Reuters) - Global commodity trader Vitol
has offered 2.20 euros ($2.37) per share for the controlling
stake the Moratti family holds in Saras SRS.MI , valuing the
Italian refinery at 2.1 billion euros, Italian newspaper MF
reported on Friday.
The price of the offer - which has a Feb. 15 deadline,
incorporates a 35% premium, the report added. Shares in Saras
closed at 1.66 euros on the Milan bourse on Thursday.
Saras declined to comment.
The company operates the 300,000-barrel-per-day Sarroch
refinery in Sardinia, one of the biggest plants in the
Mediterranean region.
The Moratti family holds just over 40% of Saras, through
three holdings.
In January, its shares fell on the news that commodity
trader Trafigura had cut its stake to just above 13% from nearly
15%.
($1 = 0.9277 euros)
(Reporting by Giulia Segreti, editing by Gavin Jones)
((Giulia.Segreti@tr.com; +39.06.80307714;))